So what would you say to a potential newbie?

[Robert Gerrish]

At times like this, it's not unusual for those people in the tall buildings to think about chucking in employment and doing their own thing. Indeed for many the decision may be made for them in the shape of retrenchment.

Personally, I don't think there's a right and wrong time to start a business. I remember seeing John McGrath speak at an event a few years ago at a time when the market was depressed and he was loving it! He said something to the effect, When everyone else is quiet and miserable, it's a wonderful time to stand out.

What advice would you give someone about to set sail?

[Devan]

Get a copy of Michael Gerber's 'E-Myth Revisited'. Read it cover to cover...twice, then jump in with both feet. It's what I did over 12 years ago and it has been a fantastic ride!

[petercrocker]

Hi Devan! Welcome and thanks for joining us.
The E-Myth Revisited is a great book. A related book, the The E-Myth Contractor by the same author is another great read (very short and easy to digest). It's written specifically for people trying to grow a contracting busininess.

[KarenC]

I think the right time is when you have the 'gut feeling', the passion, self-belief, the self discipline and the right information, resources and legal help including a good accountant, in place to begin properly. Dedication to get you through the lean times is just as important as skills. There is a story about two people - one with more talent than the other. But the one with lesser talent actually succeeded. Why? Because the one with lesser talent didn't let anything sway him - he just plodded along and continued like the 'tortoise' and succeeded despite the doom and gloom.

[The Cafe Ninja]

Get help!

What I mean by that is to find people who can support you. It can be a lonely game! And a lonely game filled with dubious advice!

Find:

- a good accountant
- a good solicitor
- birds of a feather (people who you can trust to give you good advice - like the people on here!)

But beware:

- Dodgy salespersons
- Slimey consultants
- taking advice from your family (they aren't impartial!)

By all means read the e-myth (it's great) but do it before you start up!

- Craig, The Process Ninja
The Process Ninja

[gregpritchard.virtualcio]

There is the technical aspects of what you do. There are things you can outsource (bookkeeping, administration, answering the phone, etc). However, regardless of your actual business offering; you have just taken on the role of Business Development. Every 2nd thing you do should be geared to promoting, growing, marketing, networking, communicating your offering. The future pipeline is absolutely critical. And as the business owner, it falls on your head. Not everyone is a born marketer or salesperson; but you need to recognise that this is part of the gig and cannot be ignored. Read, study, practice, get coaching - whatever it takes.

It speaks for itself if flying solo. But this applies even if you have salespeople. You need to understand what it is they are doing, how to measure their performance and results, where they can do better. For big deals and clients, you will need to be involved in the positioning/pitching/closing anyway.

Best of luck and enjoy yourself!

[@HeatherSmithAU]

I would talk to a lot of people, and read a lot, and try and attend some business events organised by state development / commerce queensland.

[MissieK]

Start Simple, Start Cheap, Start NOW! And never stop dreaming

Melissa

[divapromotions]

Don't Do It!!!!

No, really, just kidding... Do some market research to make sure that your idea will make money. Time and time again I see people with a business (me included - I learnt the hard way!) but don't actually know if people will buy what they are selling.

Then, jump in and don't stress!! (too much!)

[kathiemt]

I've been getting that question a bit lately and having people visit me. I had a lady here this afternoon and another coming by tomorrow. Giving this info free of charge too - I like to think it's my way of giving back to community.

I encourage people starting out to research discussion forums online in the topic or theme of what they plan to do. Why reinvent the wheel when they can learn from those who have already trodden the same path? This way they can mix and mingle with their peers, and competitors, and learn from them. The Virtual Assistant industry does this in a big way and very successfully - we nurture those newbies entering the field and help raise the standard of the industry at the same time.